The most important source of contract law is _____.
A) federal statutes
B) the federal government
C) the Convention on Contracts
D) the states' common law
E) civil laws

Question

Quizplus · Accepted Answer

The most important source of contract law in the United States is the states' common law. This refers to legal precedents set by past court rulings that have established principles and rules governing contracts. While federal statutes and the Convention on Contracts can also have an impact on contract law, they are not as significant as the states' common law. Civil laws may vary by country and are not applicable to the United States.

The Most Important Source of Contract Law Is _____